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Weekly Trading Forecast: NFPs, ECB and Aussie GDP to Combat Expected Slow Start
The week ahead is expected to launch with a slow start with US and UK holiday’s curbing speculative ambitions. However, a long list of critical event risk will likely break that spell quickly.
A Late Push for the Dollar from Yellen Puts Bulls on Notice
We will open the new trading week with the USDollar at a two months high but liquidity curtailed by Monday’s Memorial Day holiday.
Aussie Dollar Selling May Continue as RBA vs. Fed Outlooks Diverge
The Australian Dollar looks vulnerable to continued losses as the Fed versus RBA monetary policy divergence continues to appear increasingly more pronounced.
Sterling Continues to Strengthen With Brexit Vote a Month Away
We are now less than four weeks from the vote waited upon around-the-world; and that is the decision that UK voters will tackle on June 23rd that will decide the fate of the continued EU-membership for the United Kingdom.
Gold Prices in Free Fall- Shorts at Risk into NFP
Gold prices fell for a fourth consecutive week with the precious metal plummeting more than 2.8% to trade at 1215 ahead of the New York close on Friday.
USD/CAD Risks Further Losses on Upbeat Canada GDP, Slowing U.S. NFP
A pickup in the Canadian economy accompanied by slowing job growth in the U.S. may fuel a near-term decline in USD/CAD as the Bank of Canada (BoC) appears to be moving away from its easing cycle, while the Federal Reserve remains in no rush to further normalize monetary policy.
Japanese Yen Likely to Hit Further Lows Unless Key Data Disappoints
The Japanese Yen fell for the fourth-consecutive week against the US Dollar and matched its longest losing streak since the USD/JPY traded above ¥121 through late 2014.
EUR/USD to Mount Near-Term Recover on Sticky CPI, Wait-and-See ECB
More of the same from the ECB accompanied with signs of stronger inflation may prop up EUR/USD as market participants scale back bets for more easing.
AUD/USD, EUR/USD Ride Daily 8-EMAs Ahead of GDP, Yellen
With key events on the US calendar and a three-day weekend ahead, market risk is highest during the North American morning hours today.
Upward Revision to 1Q U.S. GDP to Hamper EUR/USD Rebound
An upward revision in the 1Q U.S. GDP Report may derail the near-term rebound in EUR/USD as it fuels speculation for an imminent Fed rate-hike.
Crude Oil and Gold Prices May Fall on US GDP, Yellen Comments
Crude oil and gold prices may decline as upgraded first-quarter US GDP figures and hawkish comments from Fed Chair Yellen fuel FOMC rate hike speculation.
USD/JPY Coiling Ahead of U.S. GDP- Breakout Levels to Watch
The recent consolidation in price is eyeing a potential breakout heading into key U.S. event risk tomorrow. Here are the updated targets & invalidation levels that matter.
EUR/GBP Breakdown Eyes Critical Support at 7520
EURGBP is responding to near-term support with more significant targets seen just lower. Here are the updated targets & invalidation levels that matter.
USD/JPY Downside Targets on Radar Ahead of Japan CPI Report
USD/JPY may continue to retrace the advance from earlier this month as it pair largely preserves the bearish trend carried over from March.
Oil Tags the Psychological $50 Level as USD Slips Below Support
Oil is up a whopping 91% from the low set on February 11th, and a new psychological level just came into play. When might this rally find resistance?
Fed Rate Expectations Rising but USDOLLAR Breakout Losing Steam
Traders seem to need more evidence before committing to the idea that the Fed will raise rates in June.
Strong U.S. Durable Goods Orders to Foster EUR/USD Losses
Another expansion in U.S. Durable Goods Orders may spark a bearish reaction in EUR/USD as it boosts bets for an imminent Fed rate-hike.
British Pound May Overlook UK GDP Data as US Dollar Rally Resumes
The British Pound may overlook revised UK GDP data as Brexit speculation preoccupies investors. The US Dollar rally may resume as Fed rate hike bets swell anew.
Gold Prices May Extend Loss Streak on US Durables Data, Fed-Speak
Gold prices may extend a six-day losing streak as upbeat US durable goods orders data and hawkish Fed commentary boost imminent rate hike speculation.
USD/CAD Continues to Pare May Advance as BoC Endorses Wait-and-See
USD/CAD may continue to retrace the advance from earlier this month as the Bank of Canada (BoC) appears to be gradually moving away from its easing cycle.
USD is Inside the Box: EUR/USD, GBP/USD Showing Divergent Trends
The US Dollar has traded within a box of price action over the past five days; but with even more Fedspeak on the docket, this may not last for long.
Positive News Flow Past 24-hours Boosts Risk, Holds Back US Dollar
The three Fed speakers today could pour cold water all over risk assets' 24-hour hot streak.
Crude Oil Prices Aim Above $50, Gold Breaks 3-Month Support
Crude oil prices are poised to test above the $50/barrel figure while gold has broken three-month support, hinting the long-term down trend may be resuming.
GBP/JPY Rally Approaching Initial Resistance Hurdle at 162
GBP/JPY is eyeing make-or-break resistance targets just higher after clearing the weekly opening range. Here are the updated targets & invalidation levels that matter.
USDOLLAR Index Tempered as GBP/USD Gains on BOE Brexit Commentary
'To Bremain or to Brexit, that is the question.'
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